Naidu seeks five-year Central support, says Amaravati and Andhra Pradesh back on growth path

Urging Union Finance Minister Nirmala Sitharaman to extend Central support for five years, Chief Minister Nara Chandrababu Naidu said Andhra Pradesh was poised to spearhead the country’s growth and development.

Addressing a gathering in Amaravati on Friday, after laying the foundation for 15 bank and insurance offices in the presence of the Finance Minister, Mr. Naidu sought exemption from capital gains tax for Amaravati farmers. He also requested Central assistance in bringing water from Polavaram to Rayalaseema for horticulture crops, noting that the region was being developed as the State’s horticulture hub.

The Chief Minister said major portions of the Amaravati capital city would be completed by 2028, and the Polavaram project by 2027. He said the Central government had sanctioned ₹1,000 crore for rebuilding the damaged diaphragm wall of Polavaram.

Asserting that Amaravati’s revival was firmly back on track, Mr. Naidu credited Prime Minister Narendra Modi for reviving development works stalled by the previous government. He thanked farmers who contributed 34,000 acres for the capital, describing Amaravati as a global model for land pooling. The 15 financial and insurance facilities, with an investment of ₹1,334 crore, are expected to generate 6,556 jobs. A dedicated Financial City has been planned for major institutions including SBI, LIC, Canara Bank, Bank of Baroda, IDBI, Indian Bank, Union Bank, AP Grameena Bank, APCOB, NABARD and New India Assurance.

Mr. Naidu said Amaravati was being developed as a green and blue city, home to top educational institutions such as VIT and SRM, with BITS Pilani and others set to establish campuses soon. Seven National Highways are being connected to the capital, with investments exceeding ₹56,000 crore in infrastructure.

A Cosmos Planetarium will also be developed in collaboration with the Indian Institute of Astrophysics, which signed an MoU with the APCRDA on the occasion. Highlighting renewed investor confidence, Mr. Naidu cited Google’s ₹1.37 lakh crore investment in Visakhapatnam and said Andhra Pradesh, with Central support, would serve as a backbone for India’s growth by 2047.